WA Market Update – 18/05/2018

Seeding continues across the state, but some areas have slowed or even stopped due to the lack of rainfall. There is the odd report of growers finishing their programs and conversely, we are hearing of others who are yet to turn a wheel. Due to the lack of rain and given most of the crop was seeded dry, the sum of area sown which has germinated remains low. It may come as a surprise to some given their recent form, but the emergence in and around the Esperance zone is also very variable. The forecast is however looking much more promising than it has during the last month and we are all hoping for a good soaking rain across the entire state.

The barley market continued to move higher this week and it is showing no signs of slowing down. Bids for F1 in Kwinana ended the week $8/MT higher at $300/MT FIS and are up $15/MT over the past two weeks. The wheat market also edged higher, but the move was insignificant in comparison to canola and barley. Canola bids jumped $12/MT to $548/MT FIS in Kwinana and CAG bids were $8/MT higher at $505/MT FIS.